N.J. Stat. § 46:8-21.2
Limitation on amount of deposit
New Jersey · New Jersey Statutes Title 46 — Property · Status: effective
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- Citation
- N.J. Stat. § 46:8-21.2, Limitation on amount of deposit, New Jersey, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1474928
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Full text
4. An owner or lessee may not require more than a sum equal to 1 1/2 times 1 month's rental according to the terms of contract, lease, or agreement as a security for the use or rental of real property used for dwelling purposes. Whenever an owner or lessee collects from a tenant an additional amount of security deposit, the amount collected annually as additional security shall not be greater than 10 percent of the current security deposit.